Delinquencies Rise, Reversing Trend


Just when it looked like the housing market might be stabilizing, the numbers are taking a surprising turn for the worse. At least according to a brand new report from TransUnion, the credit reporting firm.

"We had the feeling things were turning around," said the company's Veep of the financial services unit, FJ Guarrera. But, he went on to tell the Los Angeles Times, "...this uptick has got us turning a watchful eye on what's occurring. We didn't anticipate it."

The uptick Guarrera is referring to is a surprising increase in the rate of homeowners who are falling behind on their mortgage payments, as reflected in figures compiled by TransUnion for the fourth quarter of 2009.

Nationally, 6.9 percent of home loans are now 60 days or more past due -- a record high, according to TransUnion. That compares to just 4.58 percent in the final three months of 2008.